Revenue and profits continue to be in line with expectations for the current year.

In the 12 months to 30 September 2018, Group Annualised Recurring Revenue (“ARR”), increased by 3% to £54.8 million (September 2017: £53.1 million at constant currency), including the risk service of ODDO BHF, which was acquired on 1 July 2018. Underlying ARR growth for StatPro Revolution (excluding impact of acquired revenue and including conversions from StatPro Seven) was 16%.

The transition of the managed risk service of ODDO BHF to the Revolution platform is progressing according to plan with a target date of 31 December 2018. Once migrated, the duplicate cost of third- party software and data costs will be removed providing additional contribution to adjusted EBITDA.

The Group’s continued focus on fund administrators has resulted in a steady increase quarter on quarter of new revenue from current fund administrator partners. As previously stated, the Board considers that the market as a whole is trending towards outsourcing and StatPro is uniquely positioned to benefit from this development due to its technology.

The migration of Delta is also progressing well. Delta clients will soon be able to add Revolution functionality without needing to change any of their input or output files, reports or their GUI (Graphical User Interface). Delta will be added to Revolution, which greatly expands the functionality for both Delta and Revolution clients.

The recently announced contract win with a large South African financial institution is encouraging and reflects the quality of the Infovest division. The Group expects the division to make steady progress and provide a positive contribution to profits of the Group.

Justin Wheatley, Chief Executive, commented:

“Our flagship platform, Revolution continues to cement its position as the leading fintech solution for performance and risk, with a special focus on the asset servicing sector. With the addition of the risk service from ODDO BHF, we are well placed to augment our capabilities in this area, especially in regards to fund administrators.

“The increase in functionality for Delta and the updated roadmap for its integration with Revolution is a key milestone and importantly, it removes a decision point for clients of Delta – they have warmly welcomed this development.

“As Revolution matures we continue to expect to see investment plateauing and an increase in our margins.”

The Group’s integrated and global data coverage includes over 3.2 million securities such as equities, bonds, mutual funds, FX rates, futures, options, OTCs, sector classifications and much else besides. StatPro also covers most families of benchmarks including MSCI, FTSE, Russell, NASDAQ and the open source Freedom Index.

The Group has operations in Europe, North America, South Africa, Asia and Australia, with hundreds of clients in 39 countries around the world.

StatPro has grown its Annualised Recurring Revenue from less than £1 million in 1999 to around £55 million at the end of September 2018. Around 80% of recurring revenues are generated outside the UK. StatPro Group plc shares are listed on AIM.